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/lp/wiley/quality-audit-in-financial-investment-services-E1GrtPPO0M
- Publisher
- Wiley
- Copyright
- Copyright © 2000 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 1090-6738
- eISSN
- 1099-1123
- DOI
- 10.1111/1099-1123.00309
- Publisher site
- See Article on Publisher Site
Abstract
This paper discusses the following two questions: What is a ‘Quality Audit’? Why and how does it apply to financial investment services? ‘Quality’ in this important field of service is understood as the perception of the investor about achieving satisfactory returns, under generally accepted risks, within a planned time. The service provider normally assures this quality with due care mostly in information gathering, communication and investment decision‐making. Once this quality assurance is adequately formalized and documented, a ‘quality audit’ can be performed. The ISO 9000 international standards and guidelines describe a quality system that can be applied to provide meaningful quality assurance in investment services. Respective quality audits are described in the ISO 10011 Quality Audit Guideline. The development of quality assurance systems and quality audits for compliance and improved performance presents benefits to both the client and the investment service provider.
Journal
International Journal of Auditing – Wiley
Published: Jul 1, 2000